Applied Materials (NASDAQ:AMAT) Shares Up 4.9%

Applied Materials, Inc. (NASDAQ:AMAT) was up 4.9% during mid-day trading on Thursday . The stock traded as high as $196.00 and last traded at $195.22. Approximately 1,074,742 shares were traded during trading, a decline of 82% from the average daily volume of 6,037,012 shares. The stock had previously closed at $186.14.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays upgraded Applied Materials from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $165.00 to $225.00 in a research report on Wednesday, June 5th. B. Riley decreased their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price objective on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a report on Friday, August 16th. Finally, Stifel Nicolaus dropped their price target on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.05.

Applied Materials Price Performance

The company has a market capitalization of $159.10 billion, a PE ratio of 22.09, a P/E/G ratio of 2.21 and a beta of 1.55. The firm has a fifty day simple moving average of $198.35 and a 200 day simple moving average of $210.16. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter last year, the firm posted $1.90 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts anticipate that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.83%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is 18.39%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Redmont Wealth Advisors LLC purchased a new stake in Applied Materials during the first quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new position in Applied Materials during the 2nd quarter valued at about $26,000. Fairfield Financial Advisors LTD purchased a new stake in Applied Materials in the second quarter valued at about $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Applied Materials in the first quarter worth about $35,000. Finally, RFP Financial Group LLC grew its stake in shares of Applied Materials by 96.6% during the first quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock worth $36,000 after acquiring an additional 85 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

About Applied Materials

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.